Valo-Capitale — commercialization of innovation
- Open Date : April 13, 2023
Overview
The grant aims to support businesses in the commercialization of innovative products or processes, with a maximum financial contribution of up to $500,000. Eligible activities include professional fees, necessary project implementation expenses, and related salaries for human resources.
At a glance
Funding available
- Develop a new product or service
- Develop an online presence
- Conduct research and development activities
- Maximum amount : 500,000 $
- Up to 50% of project cost
- Open Date : April 13, 2023
Eligible candidates
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Arts, entertainment and recreation
- Quebec City
- Capitale-Nationale
- Quebec
- For-profit business
- Sole proprietorship
- Social economy enterprise
- Non-financial cooperative
- All revenue ranges
- All organization sizes
- Indigenous Peoples
- Canadians
Next Steps
Activities funded
The Valo-Capitale grant focuses on the commercialization of innovation, supporting businesses in bringing research-derived products to market and expanding their reach beyond Quebec. The eligible projects are centered on leveraging university research for commercial gain and entering new markets.
- Commercialization of a product developed from research at educational institutions, like Université Laval.
- Establishing a distribution network for a patented product in international markets, such as Australia.
Eligibility
Who is eligible?
This grant is designed for private businesses and social economy enterprises engaged in innovative commercialization projects, particularly in strategic and priority sectors. To qualify, organizations must meet several specific eligibility and evaluation criteria tailored to their field of activity and the scope of their planned project.
- Private incorporated businesses.
- Social economy enterprises (non-profit organizations and cooperatives) that predominantly engage in commercial activities.
- Individually owned businesses and partnerships primarily owned by Indigenous persons located in Wendake.
Who is not eligible
This grant excludes certain companies and projects from eligibility based on their governance, legal status, and previous financial conduct. Specific restrictions ensure that only qualified applicants can access the funding.
- Social economy enterprises (OBNL and cooperatives) that cannot demonstrate sound democratic governance.
- Applicants who have not been discharged from bankruptcy.
- Companies registered in the Public Contracts Ineligibility Register.
- Applicants who defaulted on obligations related to previous financial assistance from the City of Québec in the past two years.
- Applicants with outstanding debts with the City of Québec.
- Projects that are discriminatory or could pose a negative image risk for the City of Québec.
- Event-based, one-off projects.
Eligible expenses
The grant covers specific expenses necessary for the commercialization project execution.
- Professional fees, consulting services, and studies.
- Operating expenses and working capital required for project implementation (e.g., digital platform marketing and web promotion expenses).
- Salaries for human resources allocated to the project, at an hourly rate equivalent to that paid by the beneficiary according to its salary policy, upon presentation of a resolution of its board of directors indicating the amount allocated to the project and any relevant supporting documentation.
- Purchases or rentals of goods, equipment, and assets related to the project.
Eligible geographic areas
This grant is targeted at companies situated in specific geographical areas within the Province of Quebec. Eligible regions are primarily within the Quebec agglomeration and surrounding areas to support local economic development.
- Agglomeration of Quebec, including the cities of Quebec, Saint-Augustin-de-Desmaures, and L'Ancienne-Lorette.
- Wendake.
Additional information
Here are additional relevant details for this grant:
- The funding is contingent upon the availability of funds and a needs-based evaluation.
- The proposed financial assistance could be in the form of both grants and loans.